EFCC Exposes 58 Illegal Ponzi Schemes, Warns Nigerians
The Economic and Financial Crimes Commission (EFCC) has warned Nigerians about 58 illegal Ponzi scheme operators deceiving the public with fraudulent investment opportunities.
In a statement on Tuesday, the EFCC’s Head of Media and Publicity, Dele Oyewale, revealed that these companies are not registered with the Central Bank of Nigeria or the Securities and Exchange Commission, making their operations unlawful.
According to Oyewale, the EFCC has taken legal action against many of these entities, securing the conviction of five, while another five have pleaded guilty and are awaiting further legal processes. Several other cases are yet to be arraigned.
“In line with its commitment to sanitising the financial space of the nation and providing the investing public with adequate and reliable information, the EFCC hereby alerts Nigerians to the operations of 58 companies posturing as investing entities but defrauding innocent citizens of their hard-earned money.”
The EFCC listed some of the implicated companies, including Wales Kingdom Capital, Bethseida Group of Companies, AQM Capital Limited, Titan Multibusiness Investment Limited, Brickwall Global Investment Limited, Farmforte Limited & Agro Partnership Tech, and Green Eagles Agribusiness Solution Limited.
Other flagged companies include Richfield Multiconcepts Limited, Forte Asset Management Limited, Biss Networks Nigeria Limited, S Mobile Netzone Limited, Pristine Mobile Network, Letsfarm Integrated Services, Bara Finance & Investment Limited, Vicampro Farms Limited, Brooks Network Limited, Gas Station Supply Services Limited, Brass & Books Limited, Annexation Biz Concept & Maitanbuwal Global Ventures, and Crowdyvest Limited.
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The list also comprises Jadek Agro Connect Limited, Adeeva Capital Limited, Oxford International Group and Oxford Gold Integrated, Skapomah Global Limited, MBA Trading & Capital Investment Limited, TRJ Company Limited, Farm4Me Agriculture Limited, Quintessential Investment Company, Adeprinz Global Enterprises, Rockstar Establishment Limited, SU.Global Investment, Citi Trust Funding PLC, Farm Buddy, Eatrich 369 Farms & Food, Globertrot Farmsponsors Nigeria Limited, Farm Sponsors Limited, Cititrust Credit Limited, Farmfunded Agroservices Limited, and Adamakin Investment & Works Limited.
Other entities mentioned are Cititrust Holding PLC, Green Eagles Agribusiness Solutions Limited, Chinmark Homes & Shelters Limited, Emerald Farms & Consultant Limited, Ovaioza Farm Produce Storage Limited, Farm 360 & Agriculture Company, Requid Technologies Limited, West Agro Agriculture & Food Processing Limited, NISL Ventures Limited & Estate of Laolu Martins, XY Connect Investment Limited, River Branch Unique Investment Limited, Hallmark Capital Limited, CJC Markets Limited, Crowd One Investment, Farmkart Foods Limited, KD Likemind Stakeholders Limited, Holibiz Finance Limited, Ifeanyi Okpe Oil & Gas Services, Servapps Nigeria Limited, Barrick Gold Mining Company, and 360 Agric Partners Limited.
Oyewale assured the public that the EFCC remains committed to monitoring and prosecuting fraudulent investment schemes while urging Nigerians to verify any investment opportunity with the CBN and SEC before investing.
“We urge the public to verify any investment opportunity with the CBN and SEC before engaging. The EFCC remains committed to safeguarding the public from predatory operators and ensuring a corruption-free economic environment.”
He encouraged victims of these fraudulent schemes to come forward with complaints and assured that efforts are ongoing to recover lost funds where possible.
Titilope Adako is a talented and intrepid journalist, dedicated to shedding light on the untold stories of Osun State and Nigeria. Through incisive reporting, she tackles a broad spectrum of topics, from politics and social justice to culture and entertainment, with a commitment to accuracy, empathy, and inspiring positive change.
